"Blue Moon Diamond" sells for world record $48.4 million

November 11, 2015 9:12 PM

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GENEVAThe extremely rare and flawless "Blue Moon Diamond" sold for 48.6 million Swiss francs ($48.4 million) to a Hong Kong buyer on Wednesday, setting a world record for a gemstone at auction, Sotheby's said.

The cushion-shaped diamond, mounted on a ring, has the top grading of fancy vivid blue and weighs 12.03 carats. It had a pre-sale estimate of $35 million-$55 million.